World's top ten most profitable companies: Economic clout is leaving the US

07/29/2019

The Fortune Global 500 list for 2019 shows how economic power is moving from the United States to other countries. This time only 4 US companies entered the top 10 in terms of profitability and there were only 2 of them in the top 10 in terms of revenue.

The leaders in profit were Apple (second place), JPMorgan Chase & Co (sixth place), Alphabet in (seventh place) and Bank of America (ninth place). Apple received almost twice as much annual profit as JPMorgan Chase ($ 59.5 billion against $ 32.4 billion), but at the same time the figure is half less than that of Saudi Aramco ($ 111.0 billion).

According to Fortune, the list of the 10 most profitable companies in the world (regarding the amount of profit for the last year) looks as follows:

• Saudi Aramco - $ 110.9 billion

• Apple - $ 59.5 billion

• Industrial & Commercial Bank of China - $ 45 billion

• Samsung Electronics - $ 39.8 billion

• China Construction Bank - $ 38.4 billion

• JPMorgan Chase & Co - $ 32.4 billion

• Alphabet - $ 30.7 billion

• Agricultural Bank of China - $ 30.6 billion

• Bank of America - $ 28.1 billion

• Bank of China - $ 27.2 billion

The top 10 most profitable companies include 4 state-owned Chinese banks, as well as the South Korean conglomerate Samsung Electronics. Industrial & Commercial Bank of China takes the third place in terms of profit after Saudi Aramco and Apple. Its annual profit is $ 45 billion, and the company tops the list of the 10 most profitable firms in terms of assets ($ 4 trillion) and employees (449 thousand). For comparison, the largest US bank, JPMorgan Chase, has a profit of $ 32.5 billion, assets of $ 2.6 trillion, and the number of its employees reaches only 256 thousand.